please answer the following questions.

please provide any formula and/or explanation needed.

7. The caf needs to know what their direct labor price and efficiency variance is. Their standard direct labor time per item is 0.30 hour, at a price of $13 per hour. The actual results for the production of 2,500 items were 0.25 hour per item, at a price of $10 per hour. (6 points) a. Calculate the direct labor price variance and indicate favorable or unfavorable b. Calculate the direct labor efficiency variance and indicate favorable or unfavorable